So, I've just advanced from Premiere(elements) and got After Effects CS5. I installed it and imported some video onto it and I have no clue what's going on. The video seems to be playing in slow motion and there is no audio. I have looked at a few tutorials and none of them address this problem. Help would be greatly appreciated! thanks!
Please read the help! You are mistaking AE for an editing program, which it isn't. Very little in AE is realtime. It is all handled via creating RAM previews. Here's a bit to get you started, but really do read the help and the rest of the FAQ sub-forum.
I put together a set of getting-started materials for people new to After Effects. Please check them out:
Note the section at the end that recommends---as Mylenium recommends---checking out the FAQ list.